RIYADH: G42, a UAE-based technology company, launched a $10 billion G42 Expansion Fund in partnership with the Abu Dhabi Growth Fund to invest in late-stage companies.
Managed by a G42 subsidiary, the fund will focus on growth companies in computing, communication technology, intelligent mobility, clean tech, digital infrastructure, fintech, healthcare, and life sciences, Wamda reported.
“With the G42 Expansion Fund, we aim to accelerate our global impact not only through the deployment of capital, but also by providing unique access to our networks, management, and operational assets to our portfolio companies,” Peng Xiao, group CEO at G42 and chairman of the G42 Expansion Fund’s Investment Committee, said in a statement.
